BAKU, Azerbaijan, September 30. Around 7.8 million bank checks worth approximately 4.83 quadrillion rials (about $115 billion) were exchanged in Iran in the 4th month of the current Iranian year (June 22 through July 22, 2023), Trend reports.
As indicated in the report of the Central Bank of Iran (CBI), this shows a decrease of 4.1 percent in value and 1.6 percent in number compared to the 3rd month (May 22 through June 21, 2023).
Within 4th months, about 7.1 million checks worth approximately 4.22 quadrillion rials (about $100 billion) were received in the country.
At the same time, about 681,000 checks worth 611 trillion rials (about $14.5 billion) bounced by the country’s bank during the specified month.
The reason for the bounce of checks was the lack of available funds.
Over the past Iranian year (March 21, 2022, through March 20, 2023), a check exchange system was established in Iran. Under the mentioned system, banks can assess the authenticity of checks handed over to banks online.
---
Follow the author on X (Twitter):@BaghishovElnur
